Last year, Moneris Solutions purportedly went up for sale with a $2 billion price tag.
Months following, the name of a potential buyer was whispered.
That educated speculation has now come to fruition.
The Canadian commerce solutions provider, jointly owned by Bank of Montreal and Royal Bank of Canada since 2000, has entered into a definitive agreement to be acquired by global investment firm Francisco Partners.
Under the terms of the agreement, FP will acquire Moneris for cash consideration of approximately C$2B, with BMO and RBC each receiving their 50%.
“This announcement marks an exciting next step in Moneris’ continued evolution as the company that powers Canadian commerce,” stated James Hicks, CEO at Moneris.
“With Francisco Partners’ deep global expertise in technology and payments, we are well-positioned to further accelerate our ambitious strategy and continue to broaden the wide choice of solutions, support, and experiences we deliver to businesses to help them achieve their aspirations,” he said.
“We will continue to operate with the same focus, values, and leadership that have defined Moneris for more than two decades,” stated Hicks.
Sharon Haward-Laird of BMO commented that Moneris “has earned the trust of Canadian businesses by delivering secure, reliable and innovative payment solutions.”
“This next chapter will enable Moneris to build on that strong foundation while accelerating its strategy in a rapidly evolving payments landscape,” she stated. “Through our ongoing referral arrangements, clients will continue to benefit from the trusted support and solutions they rely on today.”
Moneris “has played a central role in enabling Canadian businesses to modernize and scale by connecting them with more consumers more often through innovative payments solutions across the commerce ecosystem,” according to RBC’s Sean Amato-Gauci.
The trusted team, leading platforms, and unwavering commitment to clients that Moneris is known for will be leveraged and amplified by Francisco Partners in this next stage of growth,” he said. “We’re eager to see the accelerated investment in innovation and modernized solutions Moneris can bring to our valued business clients and the Canadian market.”
Peter Christodoulo, a Partner at Francisco Partners, believes that Moneris “is one of the strongest payments solution providers in North America, with a trusted brand, leading technology and a proven team that has helped shape the way Canadian businesses operate.”
“We see a significant opportunity to build on that foundation through continued investment in innovation, platform expansion and long-term growth, while preserving the deeply Canadian identity that has made Moneris a market leader, including its long-standing relationships with leading Canadian financial institutions, BMO and RBC,” he stated.
As part of the transaction, former Global Payments CEO Jeff Sloan will join Moneris as Chairman.
“Moneris has established itself as a leader, with a strong market position, a clear strategic vision, and a talented team that is deeply committed to its customers and partners,” remarked Sloan. “With the investment and support of Francisco Partners, Moneris is well-positioned to accelerate that strategy and continue building on its strong foundation.”
The transaction remains subject to customary closing conditions and regulatory approvals, and is expected to close by the end of the first quarter of BMO and RBC’s fiscal year 2027.
Moneris recently laid the foundation for agentic commerce in Canada.
RBC is Canada’s biggest bank—and company—with a valuation of nearly $300B.
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